Draining the capital’s biggest fish pond

Long abandoned: The Plaza Rakyat project was abandoned after the previous developer Plaza Rakyat Sdn Bhd was hit by the Asian financial crisis in the late 1990s.

AFTER 20 years in limbo, the billion ringgit uncompleted Plaza Rakyat project will finally be revived and former buyers of the units will be duly compensated.

Last year Kuala Lumpur City Hall (DBKL) took vacant possession of the abandoned project site after repaying an RM150mil loan taken by its earlier developer Plaza Rakyat Sdn Bhd (PRSB) from a consortium of banks.